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Evolus, Inc. (EOLS)
NASDAQ:EOLS
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Evolus (EOLS) AI Stock Analysis

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EOLS

Evolus

(NASDAQ:EOLS)

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Neutral 52 (OpenAI - 5.2)
Rating:52Neutral
Price Target:
$7.00
▲(49.25% Upside)
Action:Reiterated
Date:07/08/26
The score is held back primarily by weak financial durability (negative cash flow, negative equity, and ongoing losses) despite strong revenue growth and healthy gross margins. Offsetting factors include constructive technical momentum and a supportive earnings-call outlook with reiterated 2026 guidance and improving adjusted EBITDA, while valuation remains constrained by negative earnings and no dividend support.
Positive Factors
Revenue Growth & Healthy Gross Margins
Sustained multi-year top-line expansion (TTM revenue up ~155%) combined with a consistently high ~65% gross margin implies durable product economics and pricing power. This mix supports scalable operating leverage and long-term margin sustainability as volume grows and fixed costs dilute.
Negative Factors
Negative Equity and Elevated Leverage
Negative equity and a materially higher debt balance weaken financial flexibility and raise refinancing and covenant risk. This structural leverage constraint limits the company's ability to fund growth organically or absorb shocks, making capital markets access and cost of capital potential long‑term headwinds.
Read all positive and negative factors
Positive Factors
Negative Factors
Revenue Growth & Healthy Gross Margins
Sustained multi-year top-line expansion (TTM revenue up ~155%) combined with a consistently high ~65% gross margin implies durable product economics and pricing power. This mix supports scalable operating leverage and long-term margin sustainability as volume grows and fixed costs dilute.
Read all positive factors

Evolus (EOLS) vs. SPDR S&P 500 ETF (SPY)

Evolus Business Overview & Revenue Model

Company Description
Evolus, Inc. is a performance beauty enterprise that furnishes the United States market with medical aesthetic solutions for healthcare professionals and their patients. A key product in its portfolio is Jeuveau, a proprietary 900 kilodalton purif...
How the Company Makes Money
Evolus generates revenue primarily from selling Jeuveau to customers in the aesthetics channel (e.g., dermatologists, plastic surgeons, medical spas, and other physician practices) that purchase the product for in-office treatment of patients. Rev...

Evolus Earnings Call Summary

Earnings Call Date:May 04, 2026
(Q1-2026)
|
% Change Since: |
Next Earnings Date:Aug 05, 2026
Earnings Call Sentiment Positive
The call presented a broadly constructive picture: revenue growth (Q1 +7%), healthy margins (adjusted gross margin 68%), expanding commercial footprint and loyalty (Rewards members +27% YoY), and a return to positive adjusted EBITDA ($0.6M) alongside reiterated full-year guidance and planned product launches (Esteem in Europe, Sculp FDA in Q4). Key risks include timing/seasonality comparatives, a newly announced 15% South Korea tariff on certain products, a still-small contribution from Evolisse amid a soft filler market, and continued competitive entrants. On balance, the operational improvements, profitability momentum, and clear pipeline/launch cadence outweigh the cited headwinds.
Positive Updates
Revenue Growth and Brand Performance
Q1 global net revenue $73.1M, up 7% year-over-year; Jeuveau contributed $66.4M (positive unit growth and pricing stability) and Evolisse $6.7M. Jeuveau U.S. market share maintained at 14% with expected high single-digit YoY growth over the comparable period.
Negative Updates
Seasonal and Timing Headwinds
Q1 comparisons affected by one-time revenue deferral dynamics that benefited 2025 and created a headwind in 2026; company expects Q2 U.S. Jeuveau net revenue growth to more than offset the Q1 decline.
Read all updates
Q1-2026 Updates
Negative
Revenue Growth and Brand Performance
Q1 global net revenue $73.1M, up 7% year-over-year; Jeuveau contributed $66.4M (positive unit growth and pricing stability) and Evolisse $6.7M. Jeuveau U.S. market share maintained at 14% with expected high single-digit YoY growth over the comparable period.
Read all positive updates
Company Guidance
The company reiterated full-year 2026 guidance of total net revenue of $327 million to $337 million (implying total company revenue growth of 10%–13%), adjusted gross margin of 65.5%–67%, non‑GAAP operating expenses of $210 million to $216 million, and a low‑ to mid‑single‑digit adjusted EBITDA margin (with full‑year adjusted EBITDA profitability expected); management also expects global Jeuveau revenue to grow high single‑digits in 2026 and Q2 U.S. Jeuveau net revenue to more than offset the Q1 headwind. First‑quarter results that support the outlook included global net revenue of $73.1 million (+7% YoY), Jeuveau revenue of $66.4 million, Evolisse $6.7 million, reported gross margin 67% (adjusted gross margin 68%), and positive adjusted EBITDA of $0.6 million; the company ended Q1 with $49.8 million cash and access to an additional $120 million in capital.

Evolus Financial Statement Overview

Summary
Strong revenue expansion and healthy ~65% TTM gross margin indicate solid product economics, but the company remains unprofitable with negative operating and net margins, negative operating/free cash flow, and a pressured balance sheet highlighted by negative equity and elevated debt.
Income Statement
46
Neutral
Balance Sheet
28
Negative
Cash Flow
24
Negative
BreakdownTTMDec 2025Dec 2024Dec 2023Dec 2022Dec 2021
Income Statement
Total Revenue301.79M297.18M266.27M202.09M148.62M99.67M
Gross Profit197.81M192.76M182.30M140.53M89.77M56.14M
EBITDA-14.03M-22.53M-25.00M-41.81M-53.85M-39.06M
Net Income-43.42M-51.64M-50.42M-61.69M-74.41M-46.81M
Balance Sheet
Total Assets220.65M225.87M232.57M189.00M177.98M257.48M
Cash, Cash Equivalents and Short-Term Investments49.79M53.83M86.95M62.84M53.92M146.26M
Total Debt164.90M155.00M129.98M126.55M74.42M74.74M
Total Liabilities249.43M248.97M227.05M209.69M159.48M175.61M
Stockholders Equity-28.78M-23.11M5.52M-20.69M18.50M81.88M
Cash Flow
Free Cash Flow-43.59M-45.71M-19.47M-35.63M-87.85M-34.36M
Operating Cash Flow-36.59M-42.27M-18.00M-34.01M-84.91M-33.39M
Investing Cash Flow-8.28M-8.45M-4.82M-1.63M-2.94M4.03M
Financing Cash Flow26.59M17.34M47.41M44.64M-4.15M73.05M

Evolus Technical Analysis

Technical Analysis Sentiment
Neutral
Last Price4.69
Price Trends
50DMA
6.52
Positive
100DMA
5.58
Positive
200DMA
5.90
Positive
Market Momentum
MACD
0.11
Positive
RSI
47.10
Neutral
STOCH
21.72
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For EOLS, the sentiment is Neutral. The current price of 4.69 is below the 20-day moving average (MA) of 6.82, below the 50-day MA of 6.52, and below the 200-day MA of 5.90, indicating a neutral trend. The MACD of 0.11 indicates Positive momentum. The RSI at 47.10 is Neutral, neither overbought nor oversold. The STOCH value of 21.72 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Neutral sentiment for EOLS.

Evolus Risk Analysis

Evolus disclosed 54 risk factors in its most recent earnings report. Evolus reported the most risks in the "Finance & Corporate" category.
Finance & Corporate - Financial and accounting risks. Risks related to the execution of corporate activity and strategy
Latest Risks Added 0 New Risks

Evolus Peers Comparison

Overall Rating
UnderperformOutperform
Sector (51)
Financial Indicators
Name
Overall Rating
Market Cap
P/E Ratio
ROE
Dividend Yield
Revenue Growth
EPS Growth
61
Neutral
$422.06M-47.35-1.59%-29.89%93.33%
52
Neutral
$451.11M-9.72174.92%9.56%24.52%
52
Neutral
$316.54M-16.39-0.07%12.19%1.97%
52
Neutral
$192.74M-18.52-35.57%15.00%3.18%
51
Neutral
$7.86B-0.30-43.30%2.27%22.53%-2.21%
50
Neutral
$22.75M-3.74-15.41%-30.75%-1059.59%
47
Neutral
$531.98M-6.66190.87%-7.30%-3.31%
* Healthcare Sector Average
Performance Comparison
Ticker
Company Name
Price
Change
% Change
EOLS
Evolus
6.61
-2.87
-30.27%
EBS
Emergent Biosolutions
8.05
0.69
9.38%
RMTI
Rockwell Med
5.61
-5.69
-50.35%
ORGO
Organogenesis Holdings
2.40
-1.90
-44.19%
AQST
Aquestive Therapeutics
4.12
0.11
2.74%
DERM
Journey Medical Corp
6.91
-0.24
-3.36%

Evolus Corporate Events

Business Operations and StrategyProduct-Related Announcements
Evolus Secures U.S. Profhilo Distribution Agreement
Positive
Jul 8, 2026
On July 7, 2026, Evolus entered an exclusive U.S. license, supply and distribution agreement with IBSA to develop, commercialize and distribute Profhilo, an injectable hyaluronic acid skin-quality treatment. Evolus will manage and fund all U.S. de...
Executive/Board ChangesShareholder Meetings
Evolus Shareholders Elect Directors and Ratify Key Proposals
Positive
Jun 12, 2026
At its Annual Meeting of Stockholders held on June 11, 2026, Evolus shareholders elected Brady Stewart and Vikram Malik as Class II directors to serve three-year terms ending with the 2029 annual meeting. The voting results showed strong, though u...
Business Operations and StrategyFinancial DisclosuresRegulatory Filings and Compliance
Evolus Ends ATM Facility After Strong Q1 Momentum
Positive
May 4, 2026
Evolus terminated its unused at‑the‑market equity sales agreement with Leerink Partners LLC on May 1, 2026, removing a $50 million share issuance facility that had not been tapped and signaling confidence in its current capital positio...
Glossary
BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.

Disclaimer

This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.Date of analysis: Jul 08, 2026